More than 100 days after the Middle East was plunged into conflict, President Donald Trump has declared that the United States and Iran have reached a peace agreement, paving the way for the reopening of the Strait of Hormuz and bringing an end to a war that shook global energy markets and threatened to engulf the wider region.
In a dramatic announcement late on Sunday evening, Mr Trump said negotiations with Tehran had finally produced a breakthrough, allowing both sides to commit to a permanent cessation of hostilities and the beginning of a new diplomatic process aimed at resolving the dispute over Iran’s nuclear programme.
The agreement represents the most significant diplomatic development in the Middle East for years and could mark the end of a conflict that has dominated global politics since February.
Confirming the deal, Mr Trump announced that the United States would immediately withdraw its naval blockade from the Gulf and authorise the reopening of the Strait of Hormuz.
“I hereby fully authorize the toll-free opening of the Strait of Hormuz,” he declared. “Ships of the World, start your engines. Let the oil flow.”
The reopening of the waterway is likely to be welcomed across global financial markets. Nearly a fifth of the world’s oil supply passes through the narrow shipping corridor, and its closure triggered sharp rises in energy prices that fuelled inflation and economic uncertainty across Europe, North America and Asia.
Iran also confirmed the agreement, with senior officials stating that its commitments under the memorandum of understanding would begin immediately.
According to statements from Tehran, military operations across all fronts, including Lebanon, will cease permanently as part of the arrangement.
The accord was reportedly brokered through intensive diplomacy involving Qatar, Saudi Arabia and Turkey, with Pakistan’s Prime Minister Shehbaz Sharif publicly confirming the breakthrough after weeks of mediation efforts.
Formal signing of the agreement is scheduled to take place in Switzerland later this week.
Iran will be represented by Foreign Minister Abbas Araghchi and senior officials from Tehran’s leadership, while the United States delegation will reportedly be led by Vice President JD Vance.
Yet while the ceasefire may have ended the shooting war, many of the most difficult questions remain unresolved.
The memorandum does not settle the future of Iran’s nuclear enrichment programme, which was the central issue behind the conflict. Instead, both sides have agreed to enter a further 60-day negotiation period aimed at producing a comprehensive settlement.
Those talks will focus on nuclear restrictions, sanctions relief, reconstruction assistance and mechanisms to monitor compliance.
Iranian officials have been careful to stress that the agreement does not signify trust between the two adversaries.
Meanwhile, Mr Trump indicated that military action could resume if negotiations collapse.
The President warned that Washington retained the option of restarting strikes should Tehran fail to reach a final nuclear agreement during the coming talks.
The war itself has proved costly.
More than three months of conflict disrupted global energy supplies, triggered repeated missile exchanges across the region and placed enormous pressure on military resources. The closure of the Strait of Hormuz sent oil prices surging and contributed to inflationary pressures that reverberated through the world economy.
For Britain and Europe, the agreement offers the prospect of relief from one of the biggest economic shocks of recent years.
Prime Minister Keir Starmer welcomed the breakthrough and called for rapid implementation of the agreement.
He stressed that ensuring freedom of navigation through the Strait of Hormuz and finalising a robust nuclear settlement would now be essential.
European leaders have also signalled a willingness to consider lifting sanctions if Iran takes verifiable steps to limit its nuclear activities.
Notably absent from the celebrations, however, was any immediate response from Benjamin Netanyahu.
Indeed, Mr Trump used the announcement to deliver an unusually pointed assessment of the Israeli leader, describing him as “a very difficult guy” while simultaneously praising both Vladimir Putin and Xi Jinping for their role in helping secure the agreement.
Whether the deal ultimately delivers lasting peace remains uncertain.
But after 107 days of war, soaring oil prices and repeated warnings of a wider regional conflagration, diplomats will hope the accord represents not merely a pause in the fighting, but the beginning of a more stable chapter in one of the world’s most volatile regions.
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